Funding arb · Price arb /

PENDLE

all PENDLE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against SunX−0.107%7-day average −0.045% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on SunX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.037%−$4 on $10k

Price spread, last 3 days (all we have)+0.134%+$13 · spread now −0.107%, 7d avg −0.045%

Together, before fees+0.097%+$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.061% cheaper against SunX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX PENDLE-USDT	2.5316	0.0100	pay 0.0100% / 8h	50m 25s	$2K	$1.8M	20x
Short	BingX PENDLE-USDT	2.5289	0.0100	get 0.0100% / 8h	50m 25s	—	$35.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against SunX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee SunXbpFee BingXbpOrdersPrice spread, now −0.107%Rate

Funding earned: $0
Price spread: −0.107% → −0.045%: −$6.15
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$24.15
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 5 min ago; BingX: live order book, 3 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy SunX live order book, 5 min ago	500.11 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	4.36 bp	15.1 bp −$15	23.8 bp −$238	127.4 bp −$12.7K	409.0 bp −$204.5K

PENDLE on 30 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective PENDLE/USDC PERP	−0.5000%	1h	2.4860	−1.801%	$2K	$54K	5.5x	as long as short
Deribit PENDLE_USDC-PERPETUAL	−0.0145%	1h	2.5318	+0.008%	$30K	$10K	10x	as long as short
ApeX Omni PENDLEUSDT	−0.0068%	1h	2.5214	−0.403%	$77K	$239K	50x	as long as short
BloFin PENDLE-USDT	−0.0014%	8h	2.5197	−0.470%	$1.3M	$758K	75x	as long as short
Binance PENDLEUSDT	−0.0008%	8h	2.5296	−0.078%	$27.3M	$41.5M	75x	as long as short
Extended PENDLE-USD	−0.0008%	1h	2.5298	−0.070%	$166K	$528K	10x	as long as short
MEXC PENDLE_USDT	−0.0005%	8h	2.5299	−0.067%	$17.2M	$1.9M	125x	as long as short
dYdX PENDLE-USD	0.0000%	1h	2.5244	−0.286%	$11K	—	5x	as long as short
Orderly PERP_PENDLE_USDC	+0.0006%	8h	2.5303	−0.051%	$20K	$16K	10x	as long as short
Reya PENDLERUSDPERP	+0.0043%	1h	2.5301	−0.060%	$4K	—	15x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PENDLE	+0.0050%	8h	2.5212	−0.411%	$557K	$1.8M	—	as long as short
GRVT PENDLE_USDT_Perp	+0.0071%	8h	2.5159	−0.620%	$420K	$1.6M	10x	as long as short
Aevo PENDLE-PERP	+0.0080%	1h	2.5313	−0.012%	$26K	—	3x	as long as short
Lighter PENDLE	+0.0096%	1h	2.5251	−0.257%	$532K	$415K	5x	as long as short
Paradex PENDLE-USD-PERP	+0.0100%	8h	2.5241	−0.297%	$35K	$18K	10x	as long as short
Hyperliquid PENDLE	+0.0100%	1h	2.5349	+0.130%	$12.5M	$6.0M	5x	as long as short
Aster PENDLEUSDT	+0.0100%	8h	2.5255	−0.239%	$45K	$177K	10x	as long as short
Bybit PENDLEUSDT	+0.0100%	8h	2.5290	−0.103%	$15.6M	$11.8M	50x	as long as short
OKX PENDLE-USDT-SWAP	+0.0100%	4h	2.5300	−0.063%	$3.3M	$6.0M	50x	as long as short
Gate PENDLE_USDT	+0.0100%	8h	2.5290	−0.103%	$789K	$1.2M	75x	as long as short
KuCoin PENDLEUSDTM	+0.0100%	8h	2.5305	−0.043%	$902K	$593K	50x	as long as short
Bitget PENDLEUSDT	+0.0100%	8h	2.5301	−0.059%	$3.8M	$2.7M	75x	as long as short
BingX PENDLE-USDTshort	+0.0100%	8h	2.5289	−0.107%	—	$35.7M	—
edgeX PENDLEUSDC	+0.0100%	4h	2.5147	−0.666%	$25K	$395K	10x	as long as short
Polymarket Perps PENDLE-USD	+0.0100%	1h	2.5318	+0.008%	$16K	$20K	5x	as long as short
SunX PENDLE-USDTlong	+0.0100%	8h	2.5316	long leg	$2K	$1.8M	20x
GMX PENDLE/USD [PENDLE-USDC]	L +0.0199% / S −0.0256%	1h	2.5323	+0.027%	$5K	—	100x	as long as short
Kraken Futures PF_PENDLEUSD	+0.0592%	1h	2.5377	+0.241%	$120K	$301K	20x	as long as short
Coinbase International PENDLE-PERP-INTX	+0.0600%	1h	2.5250	−0.261%	$141K	$456K	25x	as long as short
Backpack PENDLE_USDC_PERP	+0.1155%	1h	2.5265	−0.201%	$328K	$491K	15x	as long as short